Advertisment

Businesses willing to pay top dollar for tech skills

Tech skills are, currently, the most valued and businesses across industries are willing to pay top dollar for

author-image
Soma Tah
New Update
ID

BANAGLORE, INDIA: The increasing demand for talent seems to be having a positive impact on the salaries this year. Candidates undergoing appraisal this season are expected to witness a double digit salary growth ranging between 10.5 per cent to 15 per cent across industries and functions, setting in a upbeat tone for the year, says the TeamLease Jobs & Salaries Primer’ Report.

Advertisment

Information Technology, Retail and Telecommunication lead the charge towards spectacular salary growth, a cheer spread across half the industries. Salary growth in these industries tops off at around 12 per cent - 15 per cent. Health & Pharmaceuticals, Media & Entertainment, Power & Energy, FMCD and FMCG command salary growth rates between 10.5 per cent and 12 per cent for the top paying cities.

Software roles dominate top tier jobs across industries reflecting the severe talent crunch in this domain. Tech skills are, currently, the most valued and businesses across industries are willing to pay top dollar for. Roles down the hierarchy from Java Developers, Project Managers and Infrastructure Architects are commanding salaries upwards of Rs.50, 000 – at least 50 per cent marked up compared with the median salaries for the rest of the job profiles.

Job creation, especially in the domain of technological innovation, takes a front and center position in talent acquisition plans. Cutting edge skills in Digital, Analytics and Big Data are rubbing shoulders with staple job roles such as IT Manager, SAP Consultants and Systems Engineers.

Advertisment

A detailed analysis of the report also throws light on the salary trends across blue collar profiles. The median salaries for some of the blue collar profiles are around 30 per cent and 50 per cent higher than the minimum wages. The study also highlights that apart from the hard skills soft traits such as honesty, personal hygiene and mannerisms are increasingly gaining demand.

But the biggest reversal in trend this year is the salary variance between temp and perm jobs has narrowed sharply across a slew of job profiles and industries. The average salary difference now ranges only between 2.2 per cent and 2.5 per cent as compared to last year’s low of 4.7 per cent and 5.5 per cent.

Further, city wise Mumbai tops the chart as the highest salary paying city in as many as seven industries.

Certain city-industry clusters are proving to wield enormous clout in consistently attracting the best salary growth rates over time. Bangalore-IT (14.7 per cent), Mumbai-FMCG (13.6 per cent), Bangalore-Healthcare & Pharmaceuticals (13 per cent) and Pune-Power & Energy (12.5 per cent) are the city-industry clusters that dominate this scene. The clusters are characterized by a mature Talent demand-supply scenario where businesses are comfortably ensconced in cities with high quality talent pools.

Rituparna Chakraborty, Sr. V-P & Co-founder TeamLease Services, said, “The overall improvement in the business scenario coupled with the right initiatives by the government seem to be having a positive effect on hiring as well as salaries this year. The growing optimism and the resultant movement of talent will not only compel corporates to loosen their purse strings but also will help them with access to a wider talent pool.”

tech-news jobs